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Behind China’s success story

2014-12-30 16:29:32  来源: 【返回列表】

 In an interview with the Financial Times on January 24, 2014, Chinese Foreign Minister Wang Yi, who was attending the World Economic Forum Annual Meeting 2014 in Davos, explained the reasons of China’s success and described its future. Excerpts:

 

In telling the world about China’s success story, the most important thing in my view is to make good explanations in response to the myriad of speculations about China’s future. We have heard from time to time people talking down the Chinese economy and China’s development. For example, China has achieved a 7.7% GDP growth rate in the course of economic structural adjustment. This is no mean feat. But still, some people have raised doubts about it. So we need to tell the world about China’s success story and, more importantly, explain clearly the reasons and driving force behind its success story and pass on to the world China’s confidence in its own future.

 

A huge market

China has at least three unique advantages that other countries don’t share. First, a huge market. In population terms, the Chinese market is nearly four times that of the United States. By now, the US market has been dubbed market of the world. I believe that as time goes by, China will offer an even bigger market to the world.

China’s development is uneven, especially between its eastern and western regions and between urban and rural areas. This is a challenge we have to address. But this very challenge has also brought us hope and demand. The massive demand that comes with China’s development will be unleashed wave upon wave, from eastern China to its western hinterland. This is a main driving force behind the sustained growth of the Chinese economy.

 

A powerful ruling party

The second unique advantage China enjoys is its ruling party. The Communist Party of China (CPC) has 86 million members, including many outstanding people. China’s system of selecting and appointing officials is very effective. First, our election system is not about street campaigns and one-off voting but multiple voting by different groups of people.

Besides, our democratic consultation system requires comprehensive consultation with people from various sectors. A fusion of these two systems has ensured that Chinese officials are rich in experience and capable in governance. With the synergy of over 80 million party members, I don’t see any difficulty that cannot be surmounted.

 

An effective development path

Our third unique advantage is the effective development path that suits China’s national conditions. We have found this path after years of exploration. Some call it the “Chinese model”. A very important aspect concerning the Chinese path is proper management of the relationship among reform, development and stability. For China, a developing country, development is the primary task. Development is to be ensured by a stable social environment and boosted by reform.

We are now working to upgrade the relationship among the three. Regarding development, we will completely change the past pattern of development and truly take a green, circular and sustainable approach.

This will help us overcome the middle-income trap.